Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by M&T Bank Corp

M&T Bank Corp lowered its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 26.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,923 shares of the specialty retailer's stock after selling 12,081 shares during the quarter. M&T Bank Corp's holdings in Alibaba Group were worth $4,486,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. May Hill Capital LLC bought a new stake in shares of Alibaba Group in the 1st quarter valued at about $978,000. NTV Asset Management LLC raised its holdings in shares of Alibaba Group by 62.5% in the 1st quarter. NTV Asset Management LLC now owns 6,258 shares of the specialty retailer's stock valued at $827,000 after purchasing an additional 2,408 shares during the period. Brown Advisory Inc. raised its holdings in shares of Alibaba Group by 42.2% in the 1st quarter. Brown Advisory Inc. now owns 6,137 shares of the specialty retailer's stock valued at $811,000 after purchasing an additional 1,820 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in shares of Alibaba Group in the 1st quarter valued at about $2,198,000. Finally, Alpha Cubed Investments LLC bought a new stake in shares of Alibaba Group in the 1st quarter valued at about $697,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Benchmark reduced their target price on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Wall Street Zen downgraded Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Arete downgraded Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a research note on Tuesday, June 24th. Citigroup reduced their price target on Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Mizuho reduced their price target on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, Alibaba Group currently has a consensus rating of "Moderate Buy" and an average price target of $153.13.

Alibaba Group Trading Up 0.1%

Shares of NYSE:BABA traded up $0.08 during midday trading on Friday, hitting $106.72. 10,755,903 shares of the stock traded hands, compared to its average volume of 19,997,623. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $254.66 billion, a PE ratio of 12.83, a P/E/G ratio of 0.46 and a beta of 0.21. Alibaba Group Holding Limited has a one year low of $73.87 and a one year high of $148.43. The business's 50 day moving average is $118.14 and its two-hundred day moving average is $114.23.

Alibaba Group Cuts Dividend

The company also recently declared a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were given a dividend of $0.95 per share. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's payout ratio is 12.75%.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.